For instance, one of the many key factors that affect the cost of life insurance is the age of the life insurance policyholder.
It obviously costs less to insure a 25 year old than an 50 year old, and the difference is reflected in the monthly premium.
The health of the life insurance policyholder can also affect the price, and many underwriters will require a medical examination prior to the life insurance policy being approved and issued.
The type of life insurance – i.e. term vs. whole life – will also have a big affect on the price you pay for life insurance.
That's why it is so important to shop around carefully and compare various coverage options and pricing from multiple life insurance carriers.
Learn more about finding the most affordable life insurance coverage